Point72 Asset Management L.P. Boosts Stake in Orion S.A. (NYSE:OEC)

Point72 Asset Management L.P. boosted its stake in Orion S.A. (NYSE:OEC - Free Report) by 1,015.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,600 shares of the specialty chemicals company's stock after purchasing an additional 67,000 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.13% of Orion worth $1,311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. CWM LLC grew its holdings in shares of Orion by 207.0% during the second quarter. CWM LLC now owns 2,094 shares of the specialty chemicals company's stock worth $46,000 after purchasing an additional 1,412 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Orion in the 2nd quarter worth about $54,000. nVerses Capital LLC bought a new position in shares of Orion during the 3rd quarter valued at about $69,000. Quarry LP raised its holdings in shares of Orion by 76.9% during the 2nd quarter. Quarry LP now owns 4,776 shares of the specialty chemicals company's stock valued at $105,000 after buying an additional 2,076 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Orion in the 2nd quarter worth approximately $140,000. 94.33% of the stock is currently owned by institutional investors.

Orion Trading Down 2.3 %

Shares of Orion stock traded down $0.41 on Wednesday, hitting $17.59. The stock had a trading volume of 142,223 shares, compared to its average volume of 449,952. The stock's 50-day simple moving average is $17.09 and its two-hundred day simple moving average is $19.29. Orion S.A. has a one year low of $14.94 and a one year high of $28.48. The company has a quick ratio of 0.71, a current ratio of 1.24 and a debt-to-equity ratio of 1.42. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 33.96 and a beta of 1.51.

Orion (NYSE:OEC - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The specialty chemicals company reported $0.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.06). The firm had revenue of $463.40 million during the quarter, compared to analysts' expectations of $489.01 million. Orion had a net margin of 1.67% and a return on equity of 18.97%. As a group, sell-side analysts predict that Orion S.A. will post 1.68 EPS for the current year.

Orion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Friday, December 13th will be given a $0.021 dividend. This is a positive change from Orion's previous quarterly dividend of $0.02. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Friday, December 13th. Orion's dividend payout ratio (DPR) is currently 15.09%.

Analysts Set New Price Targets

OEC has been the topic of several research reports. JPMorgan Chase & Co. raised shares of Orion from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $20.00 to $21.00 in a research note on Monday, November 11th. StockNews.com cut Orion from a "buy" rating to a "hold" rating in a research note on Tuesday, October 15th.

Orion Company Profile

Orion SA, together with its subsidiaries, engages in the manufacture and sale of carbon black products. It operates in two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; high purity carbon black grades for the fiber industry; and conductive carbon black grades for batteries, polymers, and coatings.